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Alternative Market Briefing

Wealthspring Capital launches the SPAC hedge fund

Friday, April 16, 2021

Laxman Pai, Opalesque Asia:

New York-headquartered financial advisor service provider Wealthspring Capital continues to strengthen its foothold in the special purpose acquisition companies (SPACs) space with the launch of its second SPAC product and debut hedge fund offering, Fountain Opportunities, LP.

According to a press release from the investment advisory firm with a flagship cash management product, US Treasuries + Alpha with SPACs, Fountain Opportunities is designed for sophisticated investors who are interested in accessing the entire SPAC lifecycle and capitalizing on the product's inherent upside potential. The fund is currently taking subscriptions and will officially begin trading on May 3, 2021.

The offering comes as SPAC issuance continues to shatter records, with total funds raised via SPACs in the first quarter of 2021 exceeding total issuance throughout all of 2020 and investor interest remaining high, said the firm co-founded by investment industry veterans Matthew Simpson and David Gallers.

"This is Wealthspring's second SPAC-focused investment product offering. Its US Treasuries + Alph with SPACs product is a separately managed account (SMA) cash management strategy that offers investors access to SPACs while providing the recognized safety and security of US Treasuries," the press note said.

According to the release, the strategy has driven noteworthy success for Wealthspring, which has amassed over $650 million in assets under managem......................

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